Luxury vehicles, which experienced the biggest depreciation change among both light car and truck segments last week, continued to struggle last week, according to Black Book’s March 13 Market Insights.
The luxury segment has had a tumultuous beginning of the year, as it’s seen some of the highest levels of depreciation among all vehicle segments through the first three months of the year, according to Black Book data.
Last week, luxury cars, near luxury cars and prestige luxury cars realized the highest depreciation among all light car segments. Respectively, those segments saw average wholesale values fall 0.39%, 0.57%, and 0.94%.
Full-size luxury crossovers claimed the No.1 spot in terms of depreciation among trucks last week, falling 0.80% in value. Compact luxury crossovers also had one of the highest depreciation rates among all trucks, with a depreciation rate of 0.42%. One exception to the luxury segment’s troubled week, however, was the sub-compact luxury crossover. This segment realized one of the lowest weekly depreciation changes among all trucks, with a depreciation rate of 0.06%.
“Luxury brand cars have shown higher drops in value on a percentage basis in the recent weeks in comparison to mainstream brand cars,” said Anil Goyal, senior vice president of Automotive Valuation and Analytics.
Taking a look at the overall light car segment versus the overall truck segment, cars outperformed trucks last week. According to data from Black Book’s data, much of the truck segment’s higher depreciation rate was driven by small pickups and crossovers which — apart from the luxury segments — realized some of the highest depreciation rates last week.
Volume-weighted, overall car segment values decreased by 0.31%, compared to the overall truck segment, which saw values decrease by 0.43%.